TravelTriangle looking to raise $30 million funding in third round

An online marketplace for discovering travel agents, TravelTriangle.com,  is looking to raise about $30 million (about Rs 201 crore) in its third round of funding.

The five-year-old Noida-based venture, which counts marquee venture capital firms SAIF Partners and Bessemer Venture Partners among its existing backers, has mandated merchant bank Investec to scout for potential investors, according to sources privy to the developments.

Founded in 2010 by IIT graduates Sankalp Agarwal, Sanchit Garg and Prabhat Gupta, TravelTriangle not only connects consumers with travel agents, but also allows them to choose, personalize and book the best travel packages, as per their preferences.Prabhat-Sankalp-Sanchit-2

The company claims to have more than 450 local travel agents spread over 35 destinations, local and international.

Total funding for Indian venture capital-backed companies topped $12 billion (Rs 80,000 crore) across more than 1,220 deals in the past two years, with $7.3 billion invested in over 880 deals in 2015 alone, according to startup data aggregator Tracxn.

Prior to that round of funding, the venture had raised about Rs 10 crore from India and China-focused multi-stage investor SAIF Partners.

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